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Economic institutions and institutional change in Turkey during the neoliberal era

Atiyas, İzak (2012) Economic institutions and institutional change in Turkey during the neoliberal era. New Perspectives on Turkey (Sl) (47). pp. 57-81. ISSN 0896-6346

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Official URL: http://www.newperspectivesonturkey.net/Journal/Article/118

Abstract

In the last three decades, the Turkish economy has become much more open and market-oriented. This paper provides an account of the changes in the underlying economic institutions that have accompanied this transformation. In particular, it assesses whether or not new economic institutions have emerged that constrain the discretionary powers of the executive in the area of economic policy and whether institutional change has resulted in a more rule-based and transparent policy framework. The story that broadly emerges is that the first two decades of the neoliberal era were predominantly a period of increased discretion at the expense of rules. By contrast, after the crisis of 2000-2001 one witnesses a substantial delegation of decision-making power to relatively independent agencies, and the establishment of rules that constrain the discretion of the executive. But this transformation is not uniform across sectors, and there are divergences between the de jure rules and their de facto implementation. Moreover, there are also examples that do not fit the general trend, especially in the case of the construction industry. Finally, recent signs suggest that the government may be having second thoughts about the “excessive” independence of regulatory and policy making bodies.

Item Type:Article
Additional Information:Special Issue on Turkey's Experience with Neoliberal Policies and Globalization
Uncontrolled Keywords:Economic institutions, institutional change, independent regulatory agencies, delegation, rules vs. discretion, transparency
Subjects:H Social Sciences > HC Economic History and Conditions
ID Code:20470
Deposited By:İzak Atiyas
Deposited On:08 Dec 2012 14:29
Last Modified:06 May 2014 12:07

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